Business, international

Grupa Pekao roars ahead 22% in Polish bank's trading debut

Article Abstract:

Grupa Pekao SA, the biggest bank in Poland, improved in value to $2.2 billion due to strong demand during global trading. The company will gain a dynamic negotiating position through this development, noted Grupa Pekao deputy trading minister and chairman of the supervisory board Alicja Kornasiewicz. The bank is presently the biggest listing on the exchange in Warsaw, Poland. Grupa Pekao had 49.8 billion zlotys in assets at the end of 1997. Those numbers account for around 20% of the banking system of the country.

Comment:

Improves in value to $2.2 billion due to strong demand during global trading